Would you prefer to have a fixed-rate loan or a variable-interest loan? Explain why.

Depending on the circumstance. If the rate is low, one would prefer to have a fixed-rate loan to ensure the rate stays low for the duration of their paying off the loan. However, variable-interest loans could be beneficial, as the interest rate has the potential to change as the economy does. Both have their advantages and disadvantages, and the preferred loan would depend on the need for the loan.